| dc.contributor.advisor | Lynn Fisher. | en_US |
| dc.contributor.author | Darling, Jacob A., 1976- | en_US |
| dc.contributor.other | Massachusetts Institute of Technology. Dept. of Architecture. | en_US |
| dc.date.accessioned | 2005-09-06T19:47:24Z | |
| dc.date.available | 2005-09-06T19:47:24Z | |
| dc.date.copyright | 2004 | en_US |
| dc.date.issued | 2004 | en_US |
| dc.identifier.uri | http://hdl.handle.net/1721.1/26717 | |
| dc.description | Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Architecture, 2004. | en_US |
| dc.description | This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. | en_US |
| dc.description | Includes bibliographical references (leaves 59-60). | en_US |
| dc.description.abstract | With the increasing role of CMBS in commercial real estate lending, it has become crucial to understand the agency and governance risks that are created with the CMBS servicing structure. This study is an investigation of three key relationships within CMBS servicing, (1) between the servicers and different investor classes, (2) between the master servicer and the real estate owner/borrower, and (3) between the special servicer and the real estate owner/borrower. Through interviews with industry professionals and careful reading of the documentation that drives CMBS governance structures, the study reveals several different conflicts of interest that could significantly impact both the cash flow available to various trust investors and the underlying value of the real estate asset securing the mortgage. | en_US |
| dc.description.statementofresponsibility | by Jacob A. Darling. | en_US |
| dc.format.extent | 60 leaves | en_US |
| dc.format.extent | 319381 bytes | |
| dc.format.extent | 319183 bytes | |
| dc.format.mimetype | application/pdf | |
| dc.format.mimetype | application/pdf | |
| dc.language.iso | en_US | |
| dc.publisher | Massachusetts Institute of Technology | en_US |
| dc.rights | M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. | en_US |
| dc.rights.uri | http://dspace.mit.edu/handle/1721.1/7582 | |
| dc.subject | Architecture. | en_US |
| dc.title | Governance issues and default resolution in commercial mortgage backed securities | en_US |
| dc.type | Thesis | en_US |
| dc.description.degree | S.M. | en_US |
| dc.contributor.department | Massachusetts Institute of Technology. Department of Architecture | |
| dc.identifier.oclc | 58974543 | en_US |
